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Mirati Therapeutics Inc. (MRTX) – Don’t Believe the Hype: Check The Facts

Mirati Therapeutics Inc. (NASDAQ: MRTX) is -15.25% lower on its value in year-to-date trading and has touched a low of $32.96 and a high of $101.30 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MRTX stock was last observed hovering at around $43.84 in the last trading session, with the day’s loss setting it -5.44% off its average median price target of $58.50 for the next 12 months. It is also 63.08% off the consensus price target high of $104.00 offered by 18 analysts, but current levels are 4.0% higher than the price target low of $40.00 for the same period.

Currently trading at $38.40, the stock is -16.72% and -9.45% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.61 million and changing -12.41% at the moment leaves the stock -32.88% off its SMA200. MRTX registered -34.69% loss for a year compared to 6-month loss of -55.41%. The firm has a 50-day simple moving average (SMA 50) of $107.36 and a 200-day simple moving average (SMA200) of -$2.65.

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The stock witnessed a -10.88% gain in the last 1 month and extending the period to 3 months gives it a -14.84%, and is -14.27% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.06% over the week and 5.07% over the month.

Mirati Therapeutics Inc. (MRTX) has around 587 employees, a market worth around $2.22B and $18.90M in sales. Distance from 52-week low is 16.50% and -62.09% from its 52-week high. The company has generated returns on investments over the last 12 months (-76.30%).

Mirati Therapeutics Inc. (MRTX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Mirati Therapeutics Inc. (MRTX) is a “Overweight”. 18 analysts offering their recommendations for the stock have an average rating of 2.20, where 7 rate it as a Hold and 1 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Mirati Therapeutics Inc. is expected to release its quarterly report on 08/02/2023.The EPS is expected to shrink by -17.50% this year

Mirati Therapeutics Inc. (MRTX) Top Institutional Holders

The shares outstanding are 58.03M, and float is at 54.21M with Short Float at 12.47%.

Mirati Therapeutics Inc. (MRTX) Insider Activity

A total of 32 insider transactions have happened at Mirati Therapeutics Inc. (MRTX) in the last six months, with sales accounting for 15 and purchases happening 17 times. The most recent transaction is an insider sale by Christensen Jamie, the company’s EVP & Chief Scientific Officer. SEC filings show that Christensen Jamie sold 619 shares of the company’s common stock on May 24 at a price of $45.29 per share for a total of $28035.0. Following the sale, the insider now owns 0.12 million shares.

Mirati Therapeutics Inc. disclosed in a document filed with the SEC on Jan 18 that Cherrington Julie M (Director) sold a total of 2,546 shares of the company’s common stock. The trade occurred on Jan 18 and was made at $44.66 per share for $0.11 million. Following the transaction, the insider now directly holds 0.0 shares of the MRTX stock.

Still, SEC filings show that on Jan 17, Meek David D. (Chief Executive Officer) disposed off 3,179 shares at an average price of $42.38 for $0.13 million. The insider now directly holds 61,792 shares of Mirati Therapeutics Inc. (MRTX).

Mirati Therapeutics Inc. (MRTX): Who are the competitors?

The company’s main competitors (and peers) include Johnson & Johnson (JNJ) that is trading -14.88% down over the past 12 months and Eli Lilly and Company (LLY) that is 39.66% higher over the same period. AbbVie Inc. (ABBV) is -7.04% down on the 1-year trading charts.

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